Trump stock market rally

Logo of the London Stock Exchange. Eurozone heavyweights Frankfurt and Paris were each down around 1.5 per cent at the close, while London held up better. On Wall Street, the Dow Jones index was 100 points lower in the late New York morning. "US stocks are lower, along with European markets, with chip-related companies pressuring the technology sector on concerns about the fallout from escalated trade tensions, exacerbated by the ripple effect of US actions taken against Chinese telecom giant Huawei," the Charles Schwab brokerage said in a note. In the midst of a trade war with Beijing, President Donald Trump has barred US companies from doing business with foreign companies said to threaten American national security. US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, then announced that it was beginning to cut ties with China's Huawei, which Washington considers a national security threat. NO QUICK FIX "Equity markets are in the … [Read more...] about China US trade row rattles European stock markets

Logo of the London Stock Exchange. The euro rose against the dollar but was down versus sterling. Oil prices rebounded meanwhile, after slumping Friday to the lowest levels in more than one year. Bitcoin extended its slide, dropping under US$4,000 to US$3,541.02 - the lowest level for 14 months. "Italian stocks have been the outperformer in Europe ... on reports that the government may consider reducing its deficit target in a bid to avert a disciplinary procedure in Brussels and a backlash in the markets," noted Craig Erlam, senior market analyst at Oanda trading group. "The pound is also a little higher ... after (British Prime Minister) Theresa May overcame the first, and smallest, hurdle to her Brexit deal getting over the line." May convened her cabinet and updated Britain's parliament on the newly-agreed Brexit deal Monday, as she begins the tricky task of selling the plan to her sceptical country. In Rome, Italy's populist government appears open to reducing its draft budget … [Read more...] about European stock markets rally on Brexit deal, Italy budget hopes

Logo of the London Stock Exchange. Wall Street was mixed in late morning trading, with the blue-chip Dow and broader S&P 500 both modestly higher, but the Nasdaq fell 1.0 per cent. In Europe, London's FTSE 100 ended the day with a small gain, while in Paris the CAC 40 was flat and the Frankfurt DAX 30 dipped 0.2 per cent. Milan shed nearly 0.6 per cent on ongoing worries over Italy's national accounts. Global oil prices meanwhile came off lows after the US reimposed sanctions on Iran, which is the OPEC cartel's second-biggest player after Saudi Arabia. Markets.com analyst Neil Wilson said traders are focused "on US midterms on Tuesday, whilst questions over the Italian budget continue to impact risk sentiment." Eurozone finance ministers urged Italy on Monday to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis. 'WORST CASE SCENARIO' FOR MARKETS Traders are now eyeing Tuesday's US midterm elections, which are seen as a vote … [Read more...] about European stock markets steady on eve of US midterm vote

Asia markets fell on Thursday as fears about a high-stakes US-Russia stand-off over Syria arrested a rally fuelled by Xi Jinping's conciliatory trade message earlier in the week. Having enjoyed a semblance of stability this week after the Chinese president's comments soothed trade war talk, traders are now turning their attention to the Middle East. With Western leaders trying to decide how to respond to an alleged chemical attack on a Damascus district, Donald Trump on Wednesday tweeted that "missiles will be coming", defying Russian warnings against a military strike. Trump blames Syrian leader Bashar al-Assad and Moscow for the deadly assault that killed dozens in Douma, while his press secretary added that with regards to military action "all options are on the table". Russia's ambassador to Beirut warned any US missiles would be shot down "as well as the sources they were fired from". Adding to the geopolitical crisis was news that Saudi Arabia had shot … [Read more...] about Syria fears hit Asia markets as Xi trade speech fades

Stock markets across the world sprang higher Tuesday following a conciliatory speech by Chinese President Xi Jinping that reassured investors a trade war with the United States could be avoided. Following boosts to stock market indices across Asia and Europe, U.S. benchmarks also shot higher, with the Dow up more than two percent approaching midday. "U.S. stocks are higher in early action, with trade war concerns being tamped down by a conciliatory speech from Chinese President Xi, though uncertainty toward the White House continues to fester," Charles Schwab analysts said in a note. Xi, in a speech at the Boao Forum, pledged on Tuesday to lower tariffs on auto imports this year and take other steps to open the world's number two economy "wider and wider," addressing major complaints by the United States in an escalating trade row. The comments follow a series of tit-for-tat threats by the U.S. and China to impose retaliatory tariffs on one another that have rattled markets in recent … [Read more...] about Markets rise as Xi calms trade war fears

By Reuters &nbspApril 6, 2018 | 03:59 pm GMT+7 Traders gather for the IPO of Singapore-based Sea Limited on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 20, 2017. Photo by Reuters/Brendan McDermid Other Southeast Asian markets slipped as investors awaited China's response for Trump's $100 billion additional tariffs proposal. Singapore and Vietnam shares extended gains on Friday while other Southeast Asian markets slipped as investors awaited China's response after U.S. President Donald Trump proposed $100 billion in additional tariffs. "The silver lining is that Trump did open a path for de-escalation, stating that the U.S. is prepared to have discussions," Mizuho Bank said in a note. "The ball is now in China's court to either play hardball or change to a more conciliatory tone. Markets are thinking that much is posturing for negotiations, but the risk is that tit-for-tat can spiral beyond a point where it becomes … [Read more...] about Vietnam stock scales new peak, Singapore extends gain

The underlying mood remained confident, however, traders said, buoyed by bullish Chinese data, strong corporate earnings and New York's record close the previous day amid optimism over the impact of US President Donald Trump's tax cuts.Paris ended the day flat despite Airbus shares rising 0.7 per cent after Emirates Airlines struck a US$16-billion deal to buy 36 Airbus A-380 superjumbos, having traded as much as three percent up on the day during the morning session.The Emirates order throws the A-380 programme a lifeline only days after the European manufacturer said it would have to halt production without new orders.London also lapsed into the red as market participants eyed the strong pound, which weighs on the performance of multinational companies. The FTSE 100 closed down 0.3 per cent.Frankfurt was the European standout, with the DAX 30 gaining 0.7 per cent as German semiconductor giant Infineon's shares surged a day after stellar annual results from Dutch computer chip maker … [Read more...] about European stocks stutter as dollar weakens

Asian traders continued their blistering start to the year on Monday with most markets rising and Hong Kong within spitting distance of its record high, while the euro extended its gains against the dollar. Wall Street once again provided a strong lead on the back of optimism about corporate earnings in light of Donald Trump's tax cuts as well as the improving global economic outlook. Hong Kong led the way in early business on Monday, rising for a record 15th straight session and a little more than 300 points short of its all-time high of 31,958.41 hit in October 2007. The Hang Seng Index has climbed more than seven percent, supported by the broad global advance as well as a surge in mainland investors attracted by relatively cheaper valuations compared with Shanghai and Shenzhen. Among other markets Tokyo ended the morning session 0.2 percent higher despite a stronger yen, with market heavyweight Softbank almost four percent higher on reports it could list its mobile unit, raising up … [Read more...] about Asia markets extend rally as Hong Kong eyes record

Philippine shares dropped over 1 percent on Thursday, underperforming other Southeast Asian stock markets, while Vietnam extended gains to a fresh 10-year closing high.The Philippine Stock Exchange PSEI Index declined as much as 2 percent, its biggest since March 2017, before closing 1.2 percent lower."The weakness on Wall Street could have been a catalyst for a profit-taking from the global rally seen across most regions," said Fio De Jesus, an equity research analyst with RCBC Securities in Manila.The three major U.S. stock indexes ended lower overnight after a choppy trading session as investors worried that China would slow U.S. government bond purchases and that U.S. President Donald Trump would end a key trade agreement.Asian shares ex-Japan also dropped due to concerns about rising U.S. protectionism, while bonds rebounded after China's regulator said a report about Beijing slowing or halting of its U.S. bond buying was possibly wrong.Losses were largely broad-based in the … [Read more...] about ​SE Asia Stocks-Philippines falls over 1 pct; Vietnam hits fresh 10-year closing high

"It's onwards and upwards for global stock markets," said Lee Wild, head of equity strategy at online stockbroker Interactive Investor."With economic data underpinning forecasts for strong global growth in 2018, traders are happy to keep buying risk assets."The Dow shot past 25,000 - and was still comfortably clear of that milestone approaching midday in New York - as strong US private-sector hiring datasparked an extension of the stocks rally seen in the wake of enactment of US tax reform.'BRAVE TRADER'"Donald Trump may or may not have the biggest nuclear button in the world, but his country does currently have one of the strongest equity indices," said James Hughes at AxiTrader."It's currently a brave trader who bets against the strength in stock markets over the short to medium term as the juggernaut rolls on," he said.London's benchmark FTSE 100 shares index of top companies also scored a record-high intra-day peak in afternoon deals, hitting 7,702.51 at one point, before … [Read more...] about European stock markets smash records in oil-fuelled rally